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Company Law

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Chapter Summary

The Civil Code is the basic law which accommodates provisions on companies. This chapter begins with basic provisions on juridical persons, followed by commercial partnerships and companies, and production cooperatives, state and municipal unitary enterprises, and non-commercial organisations. There are separate laws on joint stock companies, limited liability companies, non-profit organisations, and unitary enterprises. The Russian securities market emerged as a result of the voucher privatization which took place in 1992 and 1993. Auctions organised by the government for selling shares in privatised companies in return for vouchers contributed to the emergence of a class of private investors. The basic law which regulates the financial market is the Law on the Securities Market of 1996. The Law on Securities Market provides for the licensing regime of the "professional participants in the securities market", which are involved in the types of businesses set out in the Law.

Keywords: Civil Code; company law; joint stock companies; non-profit organisations; Russian securities market; unitary enterprises

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